Verastem (NASDAQ:VSTM) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Verastem (NASDAQ:VSTMGet Rating) in a research note issued to investors on Monday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

VSTM has been the topic of several other reports. Alliance Global Partners reaffirmed a buy rating and set a $6.00 target price on shares of Verastem in a report on Wednesday, September 7th. HC Wainwright cut their target price on Verastem from $5.00 to $3.00 and set a buy rating on the stock in a report on Monday, November 7th. Finally, BTIG Research dropped their price objective on Verastem from $8.00 to $5.00 and set a buy rating on the stock in a research note on Wednesday, October 5th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $5.00.

Verastem Stock Up 2.3 %

Shares of VSTM opened at $0.39 on Monday. The company has a market capitalization of $82.19 million, a PE ratio of -1.00 and a beta of 0.62. Verastem has a 12 month low of $0.29 and a 12 month high of $2.82. The stock’s 50-day moving average price is $0.54 and its two-hundred day moving average price is $0.97. The company has a current ratio of 4.97, a quick ratio of 4.97 and a debt-to-equity ratio of 0.39.

Institutional Trading of Verastem

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Synovus Financial Corp increased its position in Verastem by 10.2% in the 1st quarter. Synovus Financial Corp now owns 108,000 shares of the biopharmaceutical company’s stock valued at $152,000 after buying an additional 10,000 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Verastem by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 460,493 shares of the biopharmaceutical company’s stock valued at $650,000 after buying an additional 11,090 shares in the last quarter. Commonwealth Equity Services LLC increased its position in Verastem by 45.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 47,100 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 14,800 shares in the last quarter. JPMorgan Chase & Co. increased its position in Verastem by 23.8% in the 1st quarter. JPMorgan Chase & Co. now owns 103,057 shares of the biopharmaceutical company’s stock valued at $145,000 after buying an additional 19,837 shares in the last quarter. Finally, Eaton Vance Management bought a new stake in Verastem in the 1st quarter valued at about $28,000. 58.55% of the stock is owned by institutional investors.

About Verastem

(Get Rating)

Verastem, Inc, a development-stage biopharmaceutical company, focusing on developing and commercializing drugs for the treatment of cancer. Its product in development includes VS-6766, a dual rapidly accelerated fibrosarcoma (RAF)/mitogen-activated protein kinase (MEK) clamp that blocks MEK kinase activity and the ability of RAF to phosphorylate MEK.

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Analyst Recommendations for Verastem (NASDAQ:VSTM)

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